SOLUTION: an investment club invested part of $10,000 at 9% annual interest and the rest at 8%. If the annual income from these investments was $860, how much was invested at 8%
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Question 339965: an investment club invested part of $10,000 at 9% annual interest and the rest at 8%. If the annual income from these investments was $860, how much was invested at 8% Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = dollars invested at 9%
Let = dollars invested at 8%
given:
(1)
------------------
(2)
Multiply both sides of (1) by and
subtract (1) from (2)
(2)
(1)
And, from (1)
(1)
$6000 was invested at 9% and
$4000 was invested at 8%
check:
OK
